Allstate Corp Has $7.44 Million Holdings in AT&T Inc. $T

Allstate Corp boosted its holdings in shares of AT&T Inc. (NYSE:T) by 1,448.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 263,317 shares of the technology company’s stock after purchasing an additional 246,317 shares during the period. Allstate Corp’s holdings in AT&T were worth $7,436,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in AT&T by 26.5% during the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after purchasing an additional 10,188 shares during the period. Harbor Capital Advisors Inc. grew its holdings in AT&T by 33.6% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 2,888 shares of the technology company’s stock worth $84,000 after acquiring an additional 726 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of AT&T by 3.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 306,856 shares of the technology company’s stock valued at $8,880,000 after purchasing an additional 10,485 shares during the period. UMB Bank n.a. grew its position in shares of AT&T by 2.5% during the 2nd quarter. UMB Bank n.a. now owns 184,342 shares of the technology company’s stock worth $5,335,000 after buying an additional 4,566 shares during the period. Finally, Farther Finance Advisors LLC grew its position in shares of AT&T by 13.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 173,557 shares of the technology company’s stock worth $5,023,000 after buying an additional 20,714 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Stock Performance

Shares of T stock opened at $23.50 on Monday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.01 and a quick ratio of 0.96. The company has a fifty day moving average price of $24.80 and a two-hundred day moving average price of $26.59. The stock has a market cap of $166.60 billion, a P/E ratio of 7.63, a P/E/G ratio of 1.28 and a beta of 0.39. AT&T Inc. has a one year low of $21.98 and a one year high of $29.79.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The business had revenue of $30.71 billion for the quarter, compared to analyst estimates of $30.85 billion. During the same period in the previous year, the firm earned $0.60 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. As a group, equities analysts predict that AT&T Inc. will post 2.14 EPS for the current year.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be paid a $0.2775 dividend. The ex-dividend date is Monday, January 12th. This represents a $1.11 annualized dividend and a dividend yield of 4.7%. AT&T’s dividend payout ratio is 36.04%.

Analyst Upgrades and Downgrades

T has been the topic of several recent analyst reports. Cowen reissued a “hold” rating on shares of AT&T in a research note on Thursday, October 23rd. Royal Bank Of Canada decreased their price target on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, October 23rd. Loop Capital set a $29.00 price target on AT&T in a research report on Friday, December 19th. Sanford C. Bernstein dropped their target price on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Barclays lowered their price objective on shares of AT&T from $28.00 to $26.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.36.

About AT&T

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.